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	<title>Curran Career Consulting &#187; Higher Education Archives  | Curran Career Consulting</title>
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	<description>Connecting College to Career</description>
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		<title>From College to Career in 2012: No Bright Light at the End of the Tunnel</title>
		<link>http://curranoncareers.com/college-career-2012/</link>
		<comments>http://curranoncareers.com/college-career-2012/#comments</comments>
		<pubDate>Tue, 24 Jan 2012 15:20:00 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Blog]]></category>
		<category><![CDATA[Career Advice]]></category>
		<category><![CDATA[Higher Education]]></category>

		<guid isPermaLink="false">http://curranoncareers.com/?p=917</guid>
		<description><![CDATA[In July, 2011, newly minted young college grads faced an unwelcome pinnacle: at 13.1%, the unemployment rate for bachelor’s degree graduates under the age of 25 was the highest on record.

Since the past summer, Bureau of Labor Statistics (BLS) data show several months of relative improvement in the job outlook for young grads. But, statistics from 2007-2011 provide plenty of reasons why optimism should be tempered with caution. 

For the past three years, the average unemployment rate for bachelor’s degree grads under 25 has remained stubbornly rooted around 9%.
]]></description>
			<content:encoded><![CDATA[<p><em>Note:  All statistics relate to college graduates under 25 with bachelor’s degrees, and are based on the Bureau of Labor Statistics Table 10 (unpublished).</em></p>
<p>In July, 2011, newly minted young college grads faced an unwelcome pinnacle: at 13.1%, the unemployment rate for bachelor’s degree graduates under the age of 25 was the highest on record.</p>
<p>Since the past summer, Bureau of Labor Statistics (BLS) data show several months of relative improvement in the job outlook for young grads. But, statistics from 2007-2011 provide plenty of reasons why optimism should be tempered with caution.</p>
<p><strong>Average unemployment rates</strong></p>
<p>The average unemployment figures for the past four years paint a gloomy picture. Rates started inching up between 2007 and 2008, but then jumped 54% between 2008 and 2009, when the economy took a dramatic turn for the worse.  For the past three years, the average unemployment rate for bachelor’s degree grads under 25 has remained stubbornly rooted around 9%.</p>
<p><em>Annual average unemployment rates</em></p>
<p><a href="http://curranoncareers.com/college-career-2012/4-yr-average-unemployment-rate-2007-11/" rel="attachment wp-att-919"><img src="http://curranoncareers.com/wp-content/uploads/4-yr-average-unemployment-rate-2007-11-350x210.jpg" alt="" title="4 yr average unemployment rate 2007-11" width="350" height="210" class="alignnone size-medium wp-image-919" /></a></p>
<p><strong>Why job creation doesn’t lower the unemployment rate</strong></p>
<p>New jobs are being created that are suitable for college graduates, but at nowhere near the rate necessary to bring the unemployment rate down. Between 2007 and 2011, the number of employed college grads increased by 1.8%, but the number of unemployed grads increased by 75%.  Part of the problem is the ever-increasing number of college graduates, whose numbers have risen 8.6% in four years.</p>
<p><strong>The difficulty of predicting the future for the Class of 2012</strong></p>
<p>Unemployment rates for the population as a whole vary from month to month, but over a period of months it is usually possible to spot trends. The data for college graduates under age 25 is much more difficult to interpret because of wild month-to-month variations. There was a 177% difference between the highest and lowest monthly unemployment rates in 2008 and, even in 2011, the monthly unemployment rates fluctuated 111% between a high of 13.1% and a low of 6.2%  .</p>
<p>The degree of employment difficulty facing the Class of 2012 will vary considerably depending on when they look for jobs.  Most students graduate in May. The chart below shows the impact of new entrants into the job market: Finding a position in June, July and August is the most challenging. Young college grads who want work will find much less competition in April. This is, of course, better news for the still-unemployed members of the Class of 2011 than it is for the Class of 2012; most employers want to see applications only from those ready to start work within a month.</p>
<p><em>Monthly unemployment rates 2008-2011</em></p>
<p><a href="http://curranoncareers.com/college-career-2012/4-yr-unemployment-rate-2008-2011/" rel="attachment wp-att-918"><img src="http://curranoncareers.com/wp-content/uploads/4-yr-unemployment-rate-2008-2011-350x278.jpg" alt="" title="4 yr monthly unemployment rate 2008-2011" width="350" height="278" class="alignnone size-medium wp-image-918" /></a></p>
<p><strong>Why employment statistics do not tell the whole story</strong></p>
<p>The BLS definition of employment is simple: graduates count as working if they hold any kind of employment. Thus, they are considered employed if they work while in graduate school, have part-time work out of necessity, or hold positions that do not require a college degree. Anecdotally, it seems likely that&#8211;despite the latest improvements in the job market&#8211; the Class of 2012 will face significant challenges finding interesting work that is commensurate with their educational background.</p>
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		<title>Essential Data on Colleges and Careers</title>
		<link>http://curranoncareers.com/essential-data-colleges-careers/</link>
		<comments>http://curranoncareers.com/essential-data-colleges-careers/#comments</comments>
		<pubDate>Thu, 12 Jan 2012 13:23:59 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Higher Education]]></category>
		<category><![CDATA[career development]]></category>
		<category><![CDATA[cost of education]]></category>
		<category><![CDATA[Data on career outcomes]]></category>
		<category><![CDATA[employment]]></category>
		<category><![CDATA[parental expectations]]></category>
		<category><![CDATA[Statistics on education]]></category>
		<category><![CDATA[unemployment]]></category>

		<guid isPermaLink="false">http://curranoncareers.com/?p=371</guid>
		<description><![CDATA[Across the country, colleges and universities are re-thinking goals and aspirations in light of diminishing revenues and falling endowments. At the same time, prospective students and their families increasingly seek an economic value for their tuition investment.  These realities conflict when it comes to providing exceptional career assistance to students and alumni. The following data support the assertion that colleges and universities need to focus not only on student learning outcomes, but also on ensuring the success of their graduates.]]></description>
			<content:encoded><![CDATA[<p><!--StartFragment--></p>
<p class="MsoNormal"><span><em>Information gathered by Sheila J. Curran, March, 2009, revised January, 2012</em></span></p>
<p class="MsoNormal"><span>Across the country, colleges and universities are re-thinking goals and aspirations in light of diminishing revenues and falling endowments. At the same time, prospective students and their families increasingly seek an economic value for their tuition investment.<span>  </span>These realities conflict when it comes to providing exceptional career assistance to students and alumni. The following data support the assertion that colleges and universities need to focus not only on student learning outcomes, but also on ensuring the success of their graduates. </span></p>
<p class="MsoNormal"><strong><span>DATA ON COLLEGE GRADUATES  (Bachelor’s degree and above)<br />
 </span></strong></p>
<p class="MsoNormal"><strong><span>Source: <em>Chart A-4, Employment status of the college-educated civilian population 25 years and over</em>, <a href="http://www.bls.gov/news.release/empsit.t04.htm">Bureau of Labor Statistics</a></span></strong><span><a href="http://www.bls.gov"> </a></span></p>
<p>• <a href="http://bls.gov/cps/cpsatabs.htm"><em>Unemployment rate 4.3% for college graduates over age 25</a> (December, 2011)<br />
• Unemployment rate 5.3% for college graduates over age 25 (December, 2010)<br />
• Unemployment rate 5.4% for college graduates over age 25 (December, 2009)<br />
• Unemployment rate 3.7% for college graduates over age 25 (December, 2008)<br />
• 16.2% increase in unemployment over 3 years (December, 2008 &#8211; December, 2011)<br />
• Highest unemployment rate among college graduates over 25: 5.8% in July, 2009; Lowest unemployment rate among college graduates over 25: 1.4% in December 2000</em></p>
<p><strong>Source: <em>BLS Table Ten</em> (unpublished)</strong>, <strong><em>Employment status of college and high school graduates under the age of 25</strong</em>, <strong><a href="http://bls.gov">Bureau of Labor Statistics</a></strong></p>
<p>• Unemployment rate for bachelors&#8217; degree college graduates under the age of 25 was 6.9% in December, 2011 vs. 9.6% in December, 2010 vs. 7.3% in December, 2009 vs. 5.9% in December, 2008 a 17% increase over the past three years.<br />
 • 46,000 fewer bachelor&#8217;s degree grads under 25 are currently unemployed than at this time last year (December, 2011 vs. November, 2010).<br />
• 227,000 more bachelor&#8217;s degree grads under 25 are currently employed than at this time last year (December, 2011 vs. December, 2010).<br />
• Unemployment rates for high school graduates with no college were 18% in December, 2011 vs. 19% in December, 2010, vs. 19.8% in December, 2009 vs 14.6% in December, 2008.  This represents an 23.2% increase over the last three years.</p>
<p><strong>Source: National Association of Colleges and Employers</strong>, <a href="http://naceweb.org"><strong>National Association of Colleges and Employers</strong></a><strong>, November 2010 information from <strong>Job Outlook 2011</strong>. Data was collected from 172 companies.</p>
<p>• Employers intend to increase entry-level hiring of college graduates by 13.5% in 2011, after a 5.3% increase in 2010, and a 22% decrease in 2008<br />
• 19.7% of college graduates who applied for a job in 2009, actually have one by graduation. (News release, May 6, 2009, from NACE 2009 Student Survey.) This figure compares to 26% in the Class of 2008 and 51% of the Class of 2007<br />
•  27% of the Class of 2009 planned to go on to further education (NACE 2009 Student Survey)</p>
<p><a href="http://linkedin.com/in/sheilacurran">Sheila Curran</a> prediction for the Class of 2009, made January, 2009: 70% of those students who wanted jobs would not have one lined up by graduation, and 30% of the Class of 2009 who wanted jobs would still be looking for appropriate work when the Class of 2010 graduates.  These estimates are based on NACE statistics, statistics from Michigan State, observation of student behavior and career center informal reports from across the country.</p>
<p> </p>
<p><strong></strong></p>
<p class="MsoNormal"><strong><span>Source: <em>Unemployment at Highest Rate in over 25 years,</em> <a href="http://www.epi.org">Economic Policy Institute</a>, </span></strong><span>March 6, 2009</span></p>
<p class="MsoNormal"><span>“…more than one in seven workers in this country—an estimated 23.1 million people—was either unemployed or underemployed in February [2009]. Since the start of the recession, the number of involuntary part-time workers has increased by 4 million, from 4.6 million to 8.6 million.</span></p>
<p class="MsoNormal"><span>Long-term unemployment—the share of the unemployed who have been without a job for more than six months—also remained high at 23.1%, which is unsurprising given that there are currently <span>over 4 unemployed workers per job opening last month. In this labor market, unemployed workers are seeing their chances of finding a job grow ever dimmer”</span></span></p>
<p> </p>
<p class="MsoNormal"><strong><span>Source: <em>Almanac Issue, 2010-2011, </em><a href="http://www.chronicle.com">The</a><em><a href="http://www.chronicle.com"> </a></em><a href="http://www.chronicle.com">Chronicle of Higher Education</a><em> </em></span></strong></p>
<p><strong>Degrees conferred in FY08</strong></p>
<p>• 1,563,075 students graduated with a bachelor’s degree in 2008<br />
• 626,397 students graduated with a master&#8217;s degree in 2008 and<br />
• 84,960 students graduated with a PhD in 2008<br />
• 155,625 of the students graduating with a master&#8217;s degree studied Business, Management or Marketing<br />
• 32,387 graduated with a J.D.<br />
• 13,025 graduated with an M.D.</p>
<p><strong>Student Employment</strong></p>
<p>In FY08, 43% of students enrolled full-time in 4-year colleges also worked. Over a quarter of all students enrolled full-time in 4-year colleges worked more 20 hours per week.</p>
<p class="MsoNormal"><span> </span></p>
<p class="MsoNormal"><strong><span>DATA ON PROSPECTIVE STUDENT/PARENTAL EXPECTATIONS<br />
 </span></strong></p>
<p class="MsoNormal"><strong><span>Source: </span></strong><strong><em><span>Key Drivers of Educational Value: The Emergence of Educational ROI</span></em></strong><strong><span>, <a href="http://www.eduventures.com">Eduventures</a>, </span></strong><span>December 2006, 6000+ respondents</span></p>
<p class="MsoNormal"><span>Leading drivers of educational value among freshmen are<br />
• <span>professional preparation</span> (72%)<br />
• strength of the academic program (62%), and<br />
• affordability (47%)</span></p>
<p><strong><span><br />
</span></strong></p>
<p class="MsoNormal"><strong><span>Source: <em>Messaging the Attributes of Academic Reputation</em>, <a href="www.eduventures.com">Eduventures</a>, </span></strong><span>2007<br />
240 prospective students, question about expectations of their selected college, Scale of 1-7, with an answer of 7 meaning that it is most likely a selected college would lead to this result</span></p>
<p class="MsoNormal"><span>• Ability to develop a career in which I will enjoy working:  6.3<br />
• Ability to find a job quickly after graduation:  6.2<br />
• Ability to get into graduate or professional school of my choice:  6.0<br />
• Ability to develop a career that will provide a good salary:  6.0<br />
• Ability to repay student loans:  5.7</p>
<p><strong>Source: <em>The American Freshman: National Norms for Fall, 2009</em></strong>, <strong>University of California, Los Angeles Higher Education Research Institute</strong> </p>
<p>Reasons noted as very important in selecting college attended (2008 figures in parentheses:</p>
<p>• This college&#8217;s graduates get good jobs: 56.5% (54.8%)<br />
• The cost of attending this college: 41.6%  (39.9%)<br />
• A visit to campus: 41.4% (41.4%)<br />
• I wanted to go to a school about the size of this college: 39.8% (38.5%)<br />
• This college&#8217;s graduates gain admission to top graduate/professional schools: 34.6% (35.1%)</p>
<p class="MsoNormal"><strong><span>THE COST OF HIGHER EDUCATION AND THE ECONOMIC VALUE OF A COLLEGE DEGREE <br />
 </span></strong></p>
<p class="MsoNormal"><strong><span>Source: <a href="www.bls.gov">Bureau of Labor Statistics</a>, (Sheila Curran analysis on the five-year period between 2004 and 2008)</span></strong></p>
<p class="MsoNormal"><span>• The median average salary for a college graduate (bachelor’s degree only) rose from $19474 to $22033<br />
• The average annual percentage increase in salary between 2004 and 2008 for a college graduate was 2.6%<br />
•The average increase in inflation between 2004 and 2008 was 3.2%<br />
 </span></p>
<p><strong></strong></p>
<p class="MsoNormal"><strong><span>Source: <em>Almanac Issue, 2010-2011, </em><a href="www.chronicle.com">The</a><em><a href="www.chronicle.com"> </a></em><a href="www.chronicle.com">Chronicle of Higher Education<br />
</a></span></strong></p>
<p class="MsoNormal"><span>Number of non-profit 4-year Colleges/Universities in US:<span>            </span>2204<strong><em></em></strong></span></p>
<p class="MsoNormal"><strong><span>Costs</span></strong><span>, including tuition, fees, accommodation, transportation, books</span></p>
<p>(FY09 data in parentheses)</p>
<p class="MsoNormal"><span><span>            </span>• Average cost of private 4-year college: $39,028 ($37,390);4.38% increase<br />
<span>            </span>• Average cost of public 4-year colleges (out-of-state): 30,916 ($29,193); 5.9% increase<br />
<span> </span><span>           </span>• Average cost of public 4-year colleges (in-state): $19,388 ($18,326); 5.79% increase<br />
 </span></p>
<p class="MsoNormal"><strong><span>Source: <em>Trends in Higher Education Series, 2007</em>, <em>Table 3a</em>, <a href="www.collegeboard.com">College Board</a><br />
</span></strong><span>“The average annual rate of increase [college tuition] during this period [1997-98 to 2007-08] was 5.6%&#8211;2.9% after adjusting for inflation.”<br />
 </span></p>
<p><strong></strong></p>
<p class="MsoNormal"><strong><span>Source: <em>Up, Up, and Away</em>, <a href="http://www.boston.com">Boston.com</a>, </span></strong><span>October 5, 2008<strong><br />
</strong>“For the first time in history,…the price of a year at these schools [Boston College, Boston University] and many others has surpassed the median US household income of $50,233”</span></p>
<p class="MsoNormal"><span><br />
</span></p>
<p class="MsoNormal"><span><strong>Source: Bureau of Labor Statistics, </strong><a href="www.bls.gove/emp/emptab7.htm"><strong>BLS</strong></a>, Last modified  March 29, 2011, from <strong>BLS Table 10 data for December, 2008 and December, 2010</strong>.</p>
<p class="MsoNormal"><span><strong>Unemployment Rate in December 2010</strong>,<strong> vs. Unemployment Rate in December, 2008</strong><br />
Data is from the Bureau of Labor Statistics and is for graduates over the age of 25. </p>
<p>Bachelor&#8217;s degree, 2010: 5.3% (2008: 3.6%); 2010 under 25: 9.6%<br />
Associate degree, 2010: 6.3% (2008: 4.3%); 2010 under 25: 7.9%<br />
High school graduate, 2010: 10% (2008: 7.9%); 2010 under 25: 19%<br />
Less than a high school diploma, 2010: 16.2% (2008: 12.1%); 2010 under 25: 25.8%</p>
<p class="MsoNormal"><span><strong>Annual Earnings in 2010 vs. 2008, based on December data</strong>from CPS</p>
<p>Bachelor&#8217;s degree: $53,976 in 2010 vs. $52,624 in 2008, a 2.5% increase<br />
Associate degree:$38,168 in 2010 vs. $37, 544 in 2008, a 1.6% increase<br />
High school graduate: $32,552 in 2010 vs. $32,136 in 2008, a 1.3% increase<br />
Less than a high school diploma: $23,088 in 2010 vs. 23,556 in 2008, a 1.9% decrease </p>
<p class="MsoNormal"><strong><span>CAREER SERVICES<br />
 </span></strong></p>
<p class="MsoNormal"><strong><span>Source: <em>Research, 2006-2007, </em><a href="http://naceweb.org">National Association of Colleges and Universities (NACE)</a>,512 institutions responded</span></strong><span> and <em><strong>NACE 2011 Career Services Benchmark Survey</strong></em>, 750 colleges and universities responded.<br />
# of Careers Offices reporting to Student Affairs:<span> </span>67.1% in FY07; 63.6% in FY11<br />
# of Careers Offices reporting to Academic Affairs:<span> </span>17.7%</span> in FY07; 24% in FY11<br />
<strong>35% more careers offices are reporting to Academic Affairs in FY11 than did so in FY07</strong></p>
<p><strong>Source: NACE Research Job Outlook 2011: </strong> From the section titled <strong>What Employers Want: Candidate Skills and Qualities.</strong></p>
<p>1. Communication skills (verbal)<br />
2. Strong work ethic<br />
3. Teamwork skills<br />
4. Analytical skills<br />
5. Initiative<br />
6. Problem solving skills<br />
7. Communication skills (written)<br />
8. Interpersonal skills<br />
9. Computer skills<br />
10. Flexibility/adaptability</p>
<p>The biggest gaps between skill sets required and skill sets demonstrated by new graduates (as perceived by employers) are:<br />
1. Interpersonal skills<br />
2. Strong work ethic<br />
3. Flexibility/adaptability<br />
4. Verbal communication skills<br />
5. Initiative<br />
Students&#8217; computer skills are most in line with employer requirements. </p>
<p>In choosing between two candidates with equivalent skills, the following factors come into play:<br />
1. Relevant work experience<br />
2. Experience in a leadership capacity<br />
3. Major<br />
4. High GPA<br />
5. Involvement in extra-curricular activities<br />
6. School attended<br />
7. Volunteer involvement</p>
<p> </p>
<p class="MsoNormal"><strong><span>Source: <em>Doing More with Less</em>, Development Learning Collaborative Roundtable, <a href="http://www.eduventures.com">Eduventures</a>,</span></strong><span> February 20, 2009. 33 respondents. Polling question on “What services is your institution increasing for alumni in response to the economy”.</span></p>
<p>• Online/Social Networking:<span>   </span>76%<br />
• Alumni Networking Events:<span>  </span>64%<br />
• Career counseling/advising:<span> </span>48%</p>
<p class="MsoNormal"><strong><span> </span></strong></p>
<p class="MsoNormal"><strong>CAREER OUTCOMES FOR THE COLLEGE GRAD</strong></p>
<p class="MsoNormal"><strong><span>Source: <em>Five Year Out Alumni Survey, Class of 2001</em>, <a href="www.duke.edu">Duke University</a>,</span></strong><span> March, 2007 (commissioned by <a href="www.linkedin.com/in/sheilacurran">Sheila Curran</a>)</span></p>
<p class="MsoNormal"><span>75% of those who wanted jobs found jobs within six months of graduation<br />
27% have remained with the same company<br />
43% are in a different career field than the one they entered immediately after graduation<br />
44% are still not sure they are in the right career field<br />
They have held an average of 2.79 jobs each<br />
50% of the time, they found jobs through personal connections<br />
60% of the time, their career choices were influenced somewhat or a great deal by their parents<br />
The most useful skills gained through their college education were<br />
<span>            </span>• Writing<br />
<span>            </span>• Teamwork<br />
<span>            </span>• Organizational leadership<br />
<span>            </span>• Research</span></p>
<p> </p>
<p class="MsoNormal"><strong><span>Source: <em>70% of Gen Y Leave First Job within Two Years</em>, <a href="http://www.experience.com">Experience</a>, Inc.,</span></strong><span> September, 2008</span></p>
<p class="MsoNormal"><span>70% of recent graduates left their job within two years of their joining<br />
43% are not in the career they expected to be in after college<br />
60% are currently looking for another job or career<br />
57% report being happy in their current job<br />
74% of recent graduates are in a career that aligns with their college major</span></p>
<p><!--EndFragment--></p>
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		<title>Advice for the Parents of Liberal Arts College Freshmen</title>
		<link>http://curranoncareers.com/ten-lessons-every-student-should-learn-about-education-career/</link>
		<comments>http://curranoncareers.com/ten-lessons-every-student-should-learn-about-education-career/#comments</comments>
		<pubDate>Fri, 26 Aug 2011 14:50:07 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Blog]]></category>
		<category><![CDATA[Career Advice]]></category>
		<category><![CDATA[Higher Education]]></category>
		<category><![CDATA[Professionals]]></category>
		<category><![CDATA[Career]]></category>
		<category><![CDATA[career decision-making]]></category>
		<category><![CDATA[career success]]></category>
		<category><![CDATA[College]]></category>
		<category><![CDATA[education]]></category>
		<category><![CDATA[extra-curricular activities]]></category>
		<category><![CDATA[High school]]></category>

		<guid isPermaLink="false">http://curranoncareers.com/?p=85</guid>
		<description><![CDATA[When students return to college, or set foot on campus for the first time, it's normal for parents to have conflicting emotions. One of those emotions is frequently anxiety about the cost of education and the value of that education in the real world. But such concerns are likely to be brushed away by the assumption that as long as their sons and daughters take it easy on the partying and pay attention to their studies, they'll be rewarded with a good job at graduation. At a time when the unemployment rate for recent bachelor's grads is at an all-time high (13.1%) it's essential to question this assumption.  The path from college to a good career is not automatic; it takes considerable work on the student's part, starting early in their time at college.]]></description>
			<content:encoded><![CDATA[<p>When students return to college, or set foot on campus for the first time, it&#8217;s normal for parents to have conflicting emotions. One of those emotions is frequently anxiety about the cost of education and the value of that education in the real world. But such concerns are likely to be brushed away by the assumption that as long as their sons and daughters take it easy on the partying and pay attention to their studies, they&#8217;ll be rewarded with a good job at graduation. At a time when the unemployment rate for recent bachelor&#8217;s grads is at an all-time high (13.1%) it&#8217;s essential to question this assumption.  The path from college to a good career is not automatic; it takes considerable work on the student&#8217;s part, starting early in their time at college.  Follow the ten lessons below and today&#8217;s college students will not only be better prepared for life after college; they will also gain maximum advantage and enjoyment from their education. </p>
<p>•	A college education happens everywhere—in the classroom, through extracurricular activities, on the athletic field, through internships and beyond.  Learning outside, as well as inside, the classroom may prove to be more important to your career than the subject of your degree. Take responsibility for, and engage with all aspects of your education. It will make your college experience more meaningful and it will be helpful to your career.</p>
<p>•	When you matriculate at a college, you’re not expected to know what you want to do after you leave that college.  Abandon preconceived notions of acceptable career directions. Make the decision yours—not your parents, nor your peers! To explore potential avenues of interest, take advantage of opportunities such as becoming a leader of a campus group or doing research with faculty, and weigh the value of internships versus other summer options.   </p>
<p>•	Recognize that confusion and discomfort is not only normal, it’s expected and it’s a good thing.  Give yourself permission to not be perfect.  Allow yourself to fail.  But make sure you learn from failure.  You can recover from a “D”. Colleges typically have many resources available to students. Taking early advantage of the academic advising and academic resource centers, for example, can get you back on track and help you make the most of your education. </p>
<p>•	Don’t choose your major too early, or decide on a major because you think you need it for a particular career.  (You may not!) While you should be strategic about choosing some of your early courses if you’re leaning in a particular direction (e.g., economics, biology, pre-health, public policy), it’s much more important to study what you love than to follow a path that may be more common but doesn’t interest you. For most students, the subject matter of your degree will not determine your career.  Most careers can be pursued with any major. Resist the temptation to build academic credentials at the expense of exploring new horizons.  And do not double major for the sake of a credential.  Few employers believe double-majoring confers a career advantage.</p>
<p>•	A high GPA may be necessary for a good graduate school, professional school or fellowships/scholarships, but a very high GPA is not essential for most positions and employers rarely consider GPA for second jobs.  Students with a stellar academic record aren’t necessarily the best candidates for employment. Employers want to see transferable skills, which can be drawn from any part of your education. </p>
<p>•	Further education can be a great idea, but may not be as necessary as you think.  Only go to graduate school or professional school if you are convinced you need that type of education for what you want to do.  Increasingly students are working for a while before going on to further education, providing the opportunity to consider the value and need for graduate and professional school. </p>
<p>•	Study abroad can be very helpful to your career.  But it can only give you a real career advantage if you step outside your comfort zone and learn skills like linguistic fluency, cross-cultural competency, flexibility, resilience, and decision making/problem solving. Avoid having an American experience abroad, rather than a true international experience. It is through different and difficult experiences that you are most likely to find answers to one of the most important career questions “Who are you and what do you want to do with your life?”. </p>
<p>•	You’re missing the boat if you don’t build relationships with faculty, staff and advisors early, and throughout your time at college:  they can be your biggest allies and guides.<br />
  <br />
•	Define success for yourself, even if it means you’ll be temporarily unemployed at graduation and won’t be making the highest salary.  Being employed at graduation has more to do with the type of employer you seek than with your value to the work world.  Most employers of college grads do “just in time” hiring, so that you can only be hired when an employee has left.  Prepare for the job search while at college, but recognize the actual application process may happen after finals. </p>
<p>•	Careers don’t happen over night:  they take time.  Build a partnership with counselors in your Career Center and with other trusted advisors, so that you learn the realities of life after graduation, and understand how you can best prepare yourself through education for life.</p>
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		<title>Colleges Need New Approaches to Career Preparation</title>
		<link>http://curranoncareers.com/colleges-approaches-career-preparation/</link>
		<comments>http://curranoncareers.com/colleges-approaches-career-preparation/#comments</comments>
		<pubDate>Fri, 19 Aug 2011 17:15:28 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
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		<description><![CDATA[Too many of our new graduates are not getting jobs—or at least the kind of jobs that put them on a career path and provide sufficient compensation to pay back loans. 

For three years, high unemployment rates have plagued some of our most talented young people. Colleges cannot change the economy or force companies to hire.  But they can do a better job preparing their students to compete for available positions.]]></description>
			<content:encoded><![CDATA[<p>Too many of our new graduates are not getting jobs—or at least the kind of jobs that put them on a career path and provide sufficient compensation to pay back loans. </p>
<p>For three years, high unemployment rates have plagued some of our most talented young people. Colleges cannot change the economy or force companies to hire.  But they can do a better job preparing their students to compete for available positions.</p>
<p>Colleges need to invest in their career services. But just doing more of the same won’t be enough. They must embrace a much more holistic vision of careers, with clear responsibilities for both student and institution. </p>
<p>Three strategies will help:</p>
<p><strong>1)	Clarify how students need to contribute to their own career success.</strong>  Many students seem to think that their job is over when they decide to matriculate at a particular college; all they need to do after that is get good grades and a lucrative job will follow. Colleges need to clearly articulate from the freshman year on what students must do while they are in college to be competitive in the work world.</p>
<p><strong>2)	Identify the skills and characteristics required for post-graduate success—and help students develop them.</strong>  The availability of a searchable database of hundreds of alumni profiles can help students better understand the connection between college and career. Students will learn more from reading about alumni experiences—especially when an alum graduated in a recession—than they will from any administration exhortations not to panic. With this kind of resource, students will likely see the need to make better use of Study Abroad and internship opportunities.</p>
<p><strong>3)	Develop a career community. Parents have a vested interest in the employment of their sons and daughters.</strong> Many alumni, and friends of an institution, also care deeply about graduate outcomes. Establishing a group of individuals who are willing to give career advice and assistance provides an excellent supplement to the work of on-site career professionals. At the same time, these volunteers expand both the career knowledge and opportunity base available to students and graduates.</p>
<p>Good jobs for college graduates do exist, but we need to do a much better job of preparing students to be competitive job applicants. And, we need to make sure that students are as invested in their own success as the schools they attend.</p>
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		<title>College Students Fail to Adapt to New Employment Realities</title>
		<link>http://curranoncareers.com/college-students-fail-adapt-employment-realities/</link>
		<comments>http://curranoncareers.com/college-students-fail-adapt-employment-realities/#comments</comments>
		<pubDate>Fri, 12 Aug 2011 17:13:30 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
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		<description><![CDATA[<p>College Students Fail to Adapt to New Employment Realities<br />
Curran on Careers, July, 2011</p>
<p>Students who graduated in 2009, 2010 and 2011, all entered an economic environment with double-digit rates of unemployment. And, the end is nowhere in sight.&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>College Students Fail to Adapt to New Employment Realities<br />
Curran on Careers, July, 2011</p>
<p>Students who graduated in 2009, 2010 and 2011, all entered an economic environment with double-digit rates of unemployment. And, the end is nowhere in sight. Sadly, while companies downsized and changed hiring practices, new college grads failed to adapt to new realities.</p>
<p>When unemployment rates for those aged 20-24 jumped from 6.5% to 10.8% between June, 2008 and June, 2009, colleges reached out to students encouraging them to get career help, attend more career programs, and apply for more positions. Their invitations fell, for the most part, on deaf ears.  According to the National Association of Colleges and Employers, the number of students seeking career counseling barely budged. Many students simply don’t believe the Career Center can help them.</p>
<p>College career professionals see themselves as a key resource for students—helping them understand their career options and make good career decisions. Students, on the other hand, appear to regard Career Centers as places to go when you want a job. When employment is difficult to obtain, students often choose to stay away from the offices that might help them the most—perhaps believing that there’s no way they can compete in a difficult market.</p>
<p>Surveys have shown that parents and other family members are increasingly playing the role of career advisor, regardless of whether they have accurate information to impart. The key asset of family members is that they will typically devote whatever time and energy is needed to helping students find employment—a benefit that is beyond the capacity of an understaffed careers office.</p>
<p>Young graduates need all the career assistance they can get, because large numbers of them are uniquely unsuited to finding work in this economy. What is required of graduates is resourcefulness that few developed when they were growing up.</p>
<p>Millennial students are used to knowing the rules for educational success, and have often been guided every step of the way by parents who wanted the best for their offspring. Unfortunately, this kind of job market doesn’t come with a playbook. Parents and students are out of their collective depth.</p>
<p>The jury is out on whether this generation of new college graduates will get the message that this employment market demands a different, more proactive approach, than in the past. Most likely, they will wait until after graduation for reality to set in.</p>
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		<title>Shifting Demographics Change College Employment Outlook</title>
		<link>http://curranoncareers.com/shifting-demographics-change-college-employment-outlook/</link>
		<comments>http://curranoncareers.com/shifting-demographics-change-college-employment-outlook/#comments</comments>
		<pubDate>Mon, 25 Jul 2011 16:25:06 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
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		<description><![CDATA[According to the June 2011, report from the <a href="http://www.bls.gov">Bureau of Labor Statistics (BLS)</a>, the unemployment rate for young graduates with bachelor’s degrees was a staggering 12%--substantially higher than for any other graduate cohort. But, as most college careers offices and development offices can tell you, the recent recession has also adversely affected large numbers of their alumni.  The term “jobless recovery” is apt.

The statistics tell a troubling story for anyone hoping for a quick turnaround in career prospects. There are clear reasons for pessimism:]]></description>
			<content:encoded><![CDATA[<p>According to the June 2011, report from the <a href="http://www.bls.gov">Bureau of Labor Statistics (BLS)</a>, the unemployment rate for young graduates with bachelor’s degrees was a staggering 12%&#8211;substantially higher than for any other graduate cohort. But, as most college careers offices and development offices can tell you, the recent recession has also adversely affected large numbers of their alumni.  The term “jobless recovery” is apt.</p>
<p>The statistics tell a troubling story for anyone hoping for a quick turnaround in career prospects. There are clear reasons for pessimism:</p>
<p><strong>Seniors are not retiring</strong><br />
Those within ten years of retirement at the time of the economic crash of 2008, are likely to have had a significant set-back in retirement assets—even if they were brave enough to stay invested when the market dropped.  The impact of this reality can be seen in the 22% increase in those bachelor’s degree grads aged over 65 who have chosen to be in the labor force since 2008.  Almost 200,000 more people in this age group were employed in 2011 than were employed just three years earlier. Two thirds of this growth can be explained by the increased population of older college grads; the remainder are directly attributable to seniors working longer.</p>
<p><strong>Baby-boomers have been particularly hard hit by the recession</strong><br />
The group that probably feels the most pressure to increase retirement savings are those in the 55-64 year old cohort. Unfortunately, they are the ones most affected by their older peers hanging on to employment. The baby-boomer bubble has exacerbated the situation.  Between 2008 and 2011, there was an 18% increase in the 55-64 year old cohort, leading to the worst increase in unemployment rates of any age group of bachelor’s degree graduates. In June, 2008, their unemployment rate was 2.9%. Three years later it was 6.5%&#8211;a 124% increase. Once laid off, it is particularly difficult for those over 55 to find new work.</p>
<p><strong>There is significant pent-up demand for employment</strong><br />
In June, 2011, there were 900,000 more bachelor’s degree graduates who wanted, but could not find, work than three years earlier.  Adding hundreds of thousands of jobs that require post-secondary education is likely to take years.</p>
<p>The employment situation of older graduates should also be a concern to anyone who is invested in the success of educated young people. </p>
<p>When seniors do not retire, it causes stresses on every other group in the workforce. Those who are employed find fewer promotions; salaries are depressed; and, employees at all levels face difficulties obtaining suitable employment. </p>
<p>For those on the bottom rung of the career ladder, the poor economic climate may mean accepting a position that does not require a college degree—a reality that few are willing to accept. </p>
<p>Note: All statistics come from <a href="http://www.bls.gov">BLS</a> Table 10 (unpublished). Future blog posts will discuss how the employment crisis for young college graduates can be alleviated, and what role students and their colleges will need to play to ensure their employability.</p>
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		<title>Employment Elusive for 2011 College Grads</title>
		<link>http://curranoncareers.com/employment-elusive-2011-college-grads/</link>
		<comments>http://curranoncareers.com/employment-elusive-2011-college-grads/#comments</comments>
		<pubDate>Mon, 18 Jul 2011 16:16:08 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
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		<description><![CDATA[The government’s June statistics contained an unpleasant surprise for the Class of 2011: a ten percent rise in the unemployment rate compared to June, 2010. Twelve percent of college graduates under the age of 25 had no work at all in June, 2011—not even a part-time or low-level job. 

It wasn’t supposed to be like this. After two years of unemployment rates above ten percent, there were signs of improved prospects for college seniors. The National Association of Colleges and Employers (NACE) reported in March that 53% of employers planned to hire more college seniors from the Class of 2011 than the Class of 2010. And, colleges across the country attested to increased participation from employers in fall career fairs.

]]></description>
			<content:encoded><![CDATA[<p>The <a href="http://www.bls.gov">government’s June statistics</a> contained an unpleasant surprise for the Class of 2011: a ten percent rise in the unemployment rate compared to June, 2010. Twelve percent of college graduates under the age of 25 had no work at all in June, 2011—not even a part-time or low-level job. </p>
<p>It wasn’t supposed to be like this. After two years of unemployment rates above ten percent, there were signs of improved prospects for college seniors. The National Association of Colleges and Employers (NACE) reported in March that 53% of employers planned to hire more college seniors from the Class of 2011 than the Class of 2010. And, colleges across the country attested to increased participation from employers in fall career fairs.</p>
<p>But, the anticipated uptick in employment appears to have fizzled. A NACE student survey completed in May, 2011, showed that while close to half of those who applied for positions received a job offer, only 24% of respondents had actually accepted a job by graduation. No improvement over last year. </p>
<p>It is likely that those who did not accept their job offers are looking for more relevant and lucrative opportunities. But, many of those students holding out for a better offer are likely to be disappointed. They will have strong competition from those who graduated two years ago and still have not found a career path. </p>
<p>An unemployment rate of 12%&#8211;for any group of college graduates&#8211;is unprecedented in recent memory. And, the rate is likely to stay high unless there is a massive increase in job creation. Here’s why:</p>
<p><strong>More young people are graduating with bachelor’s degrees</strong><br />
Between June, 2008 and June, 2011, the number of college grads aged 20-24 grew by 66,000. </p>
<p><strong>More young graduates want to work</strong><br />
Typically, around 80% of bachelor’s degree grads aged 20-24 participate in the labor force, with the remainder attending graduate      school, or taking time to pursue other non-work activities.  Between 2008 and 2011, however, there was a 5% increase in young graduates who were either working or looking for work.  That means over 100,000 were competing for essentially the same number of jobs as in 2008.</p>
<p><strong>Fewer young graduates are going immediately to graduate school</strong><br />
Given increased participation in the work force, it appears that younger grads are putting off graduate school, or choosing not to go at all. This is likely in response to high debt loads and an uncertain employment market. </p>
<p>Without intervention, high unemployment of new college graduates is likely to be the norm for the foreseeable future. If we want young people to capitalize on their education, pay back their considerable loans, and make meaningful contributions to society, it is incumbent on educational institutions, employers and the government to work together to find new solutions. Without new approaches, Barack Obama’s efforts to increase the number of college graduates will backfire.</p>
<p>Note: All statistics are from <a href="http://www.bls.gov">BLS</a>, Table 10 (unpublished). Future blog posts will discuss how the employment crisis for young college graduates can be alleviated, and what role students and their colleges will need to play to ensure their employability.</p>
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		<title>A Liberal Arts Education: Not Only Relevant, but Critical to Career Success</title>
		<link>http://curranoncareers.com/liberal-arts-education-relevant-critical-career-success/</link>
		<comments>http://curranoncareers.com/liberal-arts-education-relevant-critical-career-success/#comments</comments>
		<pubDate>Sat, 26 Mar 2011 01:23:19 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
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		<description><![CDATA[When the employment situation is bleak, thousands of students gravitate towards subjects like business, communications, or economics, turning their backs on liberal arts subjects. Many do so because they perceive it to be the safest way to avoid unemployment at graduation. Few have made the case to students that the pursuit of a broad academic education may be a more effective strategy to achieve the desired result. So it was with great interest that I read a discussion of this topic on my alma mater’s LinkedIn site (Durham University Alumni).  The specific question asked was how graduates used subjects like history, science or languages in their day-to-day work.

I found one answer particularly helpful, because it clearly articulated how the author’s knowledge of multiple subjects influenced his success in writing and designing video games]]></description>
			<content:encoded><![CDATA[<p>When the employment situation is bleak, thousands of students gravitate towards subjects like business, communications, or economics, turning their backs on liberal arts subjects. Many do so because they perceive it to be the safest way to avoid unemployment at graduation. Few have made the case to students that the pursuit of a broad academic education may be a more effective strategy to achieve the desired result. So it was with great interest that I read a discussion of this topic on my alma mater’s LinkedIn site (Durham University Alumni).  The specific question asked was how graduates used subjects like history, science or languages in their day-to-day work.</p>
<p>I found one answer particularly helpful, because it clearly articulated how the author’s knowledge of multiple subjects influenced his success in writing and designing video games. <a href="http://graemedavis.wordpress.com">Graeme Davis</a> moved into the games industry after graduating with a degree in archeology. This is an edited version of Graeme’s account, describing how he has used his educational background:</p>
<p>“<strong>Math:</strong> Math is a good grounding for anything computer-ish, but as a game designer rather than a programmer I still found algebra and probability indispensible in designing statistical systems for games. The state of the art in game design is getting more technical with every year that passes, making these even more important. On the soft-skill side, any mathematical subject (and I&#8217;d include physics there) teaches the kind of organized thinking that is vital for game development. It also gives me at least a chance of understanding what the programmers on my projects are talking about &#8211; sometimes it can sound like Martian to me &#8211; and good communication between disciplines (design, programming, art) is vital on a big, expensive project like an AAA video game!</p>
<p><strong>English:</strong> Writing is at the core of what I do, so much so that I now call myself a game writer with design experience rather than a game writer/designer. I despised English literature when I was in high school, arrogantly thinking that I wanted to be a writer, not to obsess over the work of other writers. I was young and foolish, what can I say? I have come to recognize that as with painters, one&#8217;s own technique and understanding of the medium is immeasurably enhanced by studying the work of the masters. Story is a huge part of what makes a good game into a great game, and there is a surprising amount of dialogue and narration in most games &#8211; I&#8217;ve heard 60 hours (that&#8217;s 20-30 Hollywood movies&#8217; worth) in a top-line MMORPG like World of Warcraft.</p>
<p><strong>History:</strong> I came to history later in life, but quite apart from the work I&#8217;ve done on historical games (like the BAFTA-winning Total War strategy game series) it&#8217;s been tremendously important for doing things like creating fantasy settings for games. Understand how history and mythology work, and you can create fake histories and mythologies that ring true. Tolkien couldn&#8217;t have created The Lord of the Rings without his academic background in Anglo-Saxon literature. Oh, and enough Latin stuck with me that I was the go-to guy for fake-Latin Space Marine mottos in Warhammer 40,000, during my four years at Games Workshop.</p>
<p><strong>Modern Languages:</strong> I studied French and German. They&#8217;ve come in handy on trips, such as the handful of visits I made to Paris for a project with Ubisoft. And as with history and mythology, an understanding of how languages work helps you construct fake ones for a fantasy game. For example, when I was writing for Warhammer Fantasy products, I twisted Welsh and Gaelic words for the Elven languages, while the Dwarf tongue was based on slightly mangled words from Scandinavian languages.</p>
<p><strong>Geography:</strong> Like history, geography has come in useful in creating fantasy worlds. Knowing how landforms, climates, and so on all work helps create a more convincing world.</p>
<p><strong>Biology:</strong> Once again, knowing about basic processes, anatomy, and ecology in this world helps create others that ring true.</p>
<p><strong>Archeology:</strong> Fantasy worlds tend to be at a medieval level of technology, often with iron-age or dark-age barbarians nibbling at their frontiers. I’ve also written historical sourcebooks (Vikings, iron-age Celts, Rome, medieval England, and most recently the Thirteen Colonies up to the Revolutionary War) for Dungeons &#038; Dragons and similar games.”</p>
<p>Most students have a very narrow frame of reference when it comes to careers. And, their parents often reinforce the myth that your major dictates how you will ultimately earn your living.  Too often, relatives who hear that a student is majoring in history, philosophy or English will ask “what are you going to do with that”, reinforcing the idea that a liberal arts degree is a fast path to unemployment. What students need to hear are stories of graduates, like Graeme Davis, whose education, inside and outside the classroom, has enabled him to follow his passion. The examples of these graduates will inspire students to make informed educational decisions, rather than following the crowd. And faculty may find a few more students in their archeology classes.</p>
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		<title>2011 College Grads Still Face Uphill Employment Battle</title>
		<link>http://curranoncareers.com/2011-college-grads-face-uphill-employment-battle/</link>
		<comments>http://curranoncareers.com/2011-college-grads-face-uphill-employment-battle/#comments</comments>
		<pubDate>Wed, 09 Feb 2011 20:12:07 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
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		<description><![CDATA[High school seniors who matriculated at four-year colleges in 2007 have seen the best and worst of economic times during their time in school. As they prepare to graduate, many must be thanking fate for the positive developments currently emerging in the employment market.

There is cause for optimism. Employers are returning to career fairs, and according to the <a href="http://www.bls.gov">Bureau of Labor Statistics</a>, the overall unemployment rate for college grads over the age of 25 has decreased from a high of 5.3% in July, 2009 to a seasonally non-adjusted rate of 4.5% in January, 2011.

But economic gains have, so far, not benefitted new college grads, whose <a href="http://curranoncareers.com/essential-data-colleges-careers/">unemployment rate in January stood at a decades-high 10.8%</a>. ]]></description>
			<content:encoded><![CDATA[<p>High school seniors who matriculated at four-year colleges in 2007 have seen the best and worst of economic times during their time in school. As they prepare to graduate, many must be thanking fate for the positive developments currently emerging in the employment market.</p>
<p>There is cause for optimism. Employers are returning to career fairs, and according to the <a href="http://www.bls.gov">Bureau of Labor Statistics</a>, the overall unemployment rate for college grads over the age of 25 has decreased from a high of 5.3% in July, 2009 to a seasonally non-adjusted rate of 4.5% in January, 2011.</p>
<p>But economic gains have, so far, not benefitted new college grads, whose <a href="http://curranoncareers.com/essential-data-colleges-careers/">unemployment rate in January stood at a decades-high 10.8%</a>.  Contrary to all other groups, bachelor&#8217;s degree holders aged 20-24 experienced a 17% increase in their rate of unemployment between January, 2010, and January, 2011.  And, over the past three years, that unemployment rate has almost doubled.</p>
<p>Three years ago, 116,000 of these young college grads were unemployed. Now, close to a quarter of a million find themselves without jobs. Many of those who do have jobs are underemployed and living back home with their parents.</p>
<p>A significant proportion of students attend college in pursuit of a better standard of living, commensurate with their investment in higher education. For those graduates who are unemployed or underemployed, college loan repayments are a cruel reminder of unfulfilled expectations.</p>
<p>As employers start to add more jobs, current students must prepare themselves to be compelling candidates, so that they avoid the unemployment/underemployment trap. Four strategies will help:</p>
<p>1) Take advantage of internships and co-ops. One reason why employers choose older college grads over their younger peers is because of their proven work experience. Students need to be able to articulate their relevant or transferable skills, even if they have not held full-time positions. </p>
<p>2) Go the extra mile. The passive approach no longer works, and that includes applying indiscriminately to every job on Craig&#8217;s List. Searching out employers of interest, reading up on company developments, and mining alumni databases to find points of connection to the organization, are all examples of the kind of proactive approach that is required.</p>
<p>3) Use your Career Center. Students who use their school&#8217;s career services office will typically find jobs more quickly than their peers. Yet, according to the <a href="http://www.naceweb.org">National Association of Colleges and Employers</a>, advising appointments at Career Centers nationally have gone down, not up. Career Centers cannot, or course, manufacture jobs, but they can help students position themselves more effectively with employers.</p>
<p>4) Make your career search a priority. No amount of advice can help you achieve your career goals unless you are willing to devote the considerable time it takes to conduct an effective job search.</p>
<p>There are jobs out there for new grads&#8211;and many lie unfilled because new college grads cannot make the case for their own employment. Parents, educators and career professionals have a vested interest and a moral obligation to help them do so.</p>
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		<title>College Loans Should Come with a Uniform Warning Label</title>
		<link>http://curranoncareers.com/college-loans-uniform-warning-label/</link>
		<comments>http://curranoncareers.com/college-loans-uniform-warning-label/#comments</comments>
		<pubDate>Mon, 07 Feb 2011 21:40:53 +0000</pubDate>
		<dc:creator>Sheila Curran</dc:creator>
				<category><![CDATA[Articles]]></category>
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		<category><![CDATA[Higher Education]]></category>
		<category><![CDATA[Professionals]]></category>

		<guid isPermaLink="false">http://curranoncareers.com/?p=819</guid>
		<description><![CDATA[For the student applying for significant loans, the challenge of finding a well-paying job should be a cause for serious worry. The Department of Education estimates that in 2009, only 56% of students at private non-profit colleges were in repayment of their student loans four years after they graduated or left school. That figure dips to 54% for students at public non-profit institutions and plummets to 36% for students at for-profit colleges.

Perhaps it is time to put a warning label on every college loan that says: "This college loan may adversely affect your financial health. A college degree does not guarantee that you will receive a post-graduate job with a salary sufficient to repay your loans. Further, your debts cannot be discharged through bankruptcy."  ]]></description>
			<content:encoded><![CDATA[<p>In the next few months, hundreds of thousands of high school seniors will be deciding where to go to college. They&#8217;ve read the viewbooks, checked out the campus, and made sure they could major in a chosen subject. And, they&#8217;ve considered whether they will receive sufficient financial aid to attend.</p>
<p>What prospective students rarely do, however, is question whether a degree from a particular college is likely to lead to a lucrative job after graduation. How many prospective applicants press the careers office for information on employment or salaries? How many ask what it will take for them to be employed at graduation?</p>
<p>For the student applying for significant loans, the challenge of finding a well-paying job should be a cause for serious worry. The Department of Education estimates that in 2009, only 56% of students at private non-profit colleges were in repayment of their student loans four years after they graduated or left school. That figure dips to 54% for students at public non-profit institutions and plummets to 36% for students at for-profit colleges.</p>
<p>The reality of graduates struggling with debt is in sharp contrast to their expectations as students. According to the latest national survey by the Higher Education Research Institute at the University of California at Los Angeles, 72.7% of 2011 freshmen largely agreed that the chief benefit of college is increased earning power. </p>
<p>Sadly, the Department of Education data suggests that many entry-level graduate salaries, for those lucky enough to find a job, are insufficient to maintain an adequate standard of living while repaying debts. The unemployment rate in January, 2011, for those with bachelors degrees aged 20-24, stood at 10.8%. Graduates in this cohort who do have jobs may be either working part-time or underemployed, further exacerbating their financial situation.  </p>
<p>Students who are considering taking on high amounts of debt must understand what that debt will mean for their lives after graduation. Colleges and universities have a clear responsibility to not only publish the career and salary outcomes for their graduates, but also to identify the time and effort required for a successful career search. </p>
<p>Perhaps it is time to put a warning label on every college loan that says: &#8220;This college loan may adversely affect your financial health. A college degree does not guarantee that you will receive a post-graduate job with a salary sufficient to repay your loans. Further, your debts cannot be discharged through bankruptcy.&#8221;</p>
<p>Increasing the number of Americans with a college education, and making loans available to more students are worthy goals. But, when students are able to take out loans with insufficient consideration of the consequences, it bodes well for no one&#8211;least of all, the debt-ridden college graduate.</p>
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